The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13.9 - Manufacture of other textiles
150 jobs Number of planned job losses
Announcement Date
7 April 2005
Employment effect (start)
Foreseen end date
31 December 2005
Description
Loana Rožnov pod Radhoštěm, a Czech stocking producer, will have to let go about 150 workers from current staff of 600 by the end of 2005 due to the recent liberalisation of soft goods being imported at lower prices from China and other Asian countries. According to experts, the crisis of the entire Czech textile industry, relating also to a low productivity in the Czech Republic in comparison with Western Europe, might result in up to 30,000 jobs losses in the coming years.
Sources
7 April 2005: Hospodárske noviny
Citation
Eurofound (2005), Loana, Internal restructuring in Czechia, factsheet number 61375, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61375.
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